Business News

Toyota, Panasonic to set up EV battery JV in 2020: source

TOKYO (Reuters) - Toyota Motor Corp (7203.T) and Panasonic Corp (6752.T) are set to launch a joint venture next year to produce batteries for electric vehicles (EV) in an effort to compete with Chinese rivals, a source familiar with the matter said. The joint venture, to be owned 51 percent by Toyota and the rest by Panasonic, could also provide batteries to Toyota’s EV technology partners Mazda Corp (7261.T) and S...

20 Jan 9:29 AM 0 Read More...

China set to post slowest growth in 28 years in 2018, more stimulus seen

BEIJING (Reuters) - China is expected to report on Monday that economic growth cooled to its slowest in 28 years in 2018 amid weakening domestic demand and bruising U.S. tariffs, adding pressure on Beijing to roll out more support measures to avert a sharper slowdown. Growing signs of weakness in China — which has generated nearly a third of global growth in the past decade — are stoking worries about risks to th...

20 Jan 4:24 AM 0 Read More...

Paris informs Tokyo it wants Renault and Nissan to integrate: Nikkei

TOKYO (Reuters) - A French government delegation has informed Tokyo that it would seek an integration of Renault (RENA.PA) and Nissan (7201.T), most likely under the umbrella of a single holding company, the Nikkei reported on Sunday. The delegation, which included French government-designated Renault director Martin Vial, also said that it wanted to name Nissan’s next chairman, according to the report. Nissan was ...

20 Jan 4:24 AM 0 Read More...

EU must approve Siemens/Alstom deal, says French finance minister

PARIS (Reuters) - The European Union must approve the tie-up between Germany’s Siemens (SIEGn.DE) and French group Alstom (ALSO.PA), said French Finance Minister Bruno Le Maire, who added he would meet a main European regulator to express his support for the deal. Le Maire told France’s Journal du Dimanche newspaper that he would meet European Competition Commissioner Margrethe Vestager on Jan. 21 to reiterate Fr...

19 Jan 11:19 PM 0 Read More...

GM warns workers in Brazil on losses, tough turnaround plan

SAO PAULO (Reuters) - General Motors Co (GM.N) has warned employees in Brazil that new investments there depend on a painful plan to return to profit in the country, according to a memo seen by Reuters on Saturday. In a message posted at Brazilian plants, GM’s top executive in Brazil and Argentina, Carlos Zarlenga, said after running up a heavy loss over the past three years the operation had reached “a critical ...

19 Jan 6:14 PM 0 Read More...

Trump says deal 'could very well happen' with China

WASHINGTON (Reuters) - U.S. President Donald Trump said on Saturday there has been progress toward a trade deal with China, but denied that he was considering lifting tariffs on Chinese imports. “Things are going very well with China and with trade,” he told reporters at the White House, adding that he had seen some “false reports” indicating that U.S. tariffs on Chinese products would be lifted. “If we mak...

19 Jan 6:14 PM 0 Read More...

Qatar emir to attend Beirut’s Arab economic summit

BEIRUT (Reuters) – Qatar’s emir will visit Beirut on Sunday for an Arab economic summit which has been marred by regional rifts and internal Lebanese disputes even before it began. Lebanese President Michel Aoun’s office said on Saturday Sheikh Tamim bin Hamad Al Thani had informed it he would come to lead the Qatari delegation. Rifts among Arab states over Syria and its ally Iran, on top of division...

19 Jan 3:59 PM 0 Read More...

Qatar emir to attend Beirut's Arab economic summit

BEIRUT (Reuters) - Qatar’s emir will visit Beirut on Sunday for an Arab economic summit which has been marred by regional rifts and internal Lebanese disputes even before it began. Lebanese President Michel Aoun’s office said on Saturday Sheikh Tamim bin Hamad Al Thani had informed it he would come to lead the Qatari delegation. Rifts among Arab states over Syria and its ally Iran, on top of divisions inside L...

19 Jan 1:09 PM 0 Read More...

Supermarket retailer Casino to sell six stores to rival Leclerc

PARIS (Reuters) - French supermarket retailer Casino (CASP.PA), in the process of divesting assets to cut debts, has agreed to sell six of its ‘Geant’ hypermarket stores to domestic rival Leclerc for 100.5 million euros ($114 million). “Reducing these losses will contribute to the group’s growth objective in trading profit in the France retail segment,” Casino said in a statement on Saturday. Earlier this w...

19 Jan 1:09 PM 0 Read More...

U.S. chipmakers may give clues on China hazard

SAN FRANCISCO (Reuters) - Intel Corp (INTC.O) operates mostly outside the Apple-sphere, and that is exactly why whatever it says next week about business in its vital Chinese market matters so much for investors. Apple (AAPL.O) rattled global markets this month when the iPhone maker cut its revenue outlook for the first time in 15 years, blaming factors like the U.S.-China trade dispute and a slowdown in the Chinese ...

19 Jan 1:09 PM 0 Read More...